4. Which bank CD (assume equal risk) has the highest effective annual return (EAR)?

Group of answer choices

a. One that pays 7.99 percent daily (on a 365-day basis)

b. One that pays 8.00 percent monthly.

c. One that pays 8.00 percent annually.

d. One that pays 8.15 percent quarterly.

e. One that pays 8.20 percent semiannually.